Pagantis has agreed to be purchased by Afterpay in a deal sized at about $59m having raised more than $92m from backers including the Credit Suisse’s SPF Investment Management spinoff.
Consumer finance provider Afterpay has agreed to acquired Spain-based consumer lending platform Pagantis for at least €50m ($58.9m), enabling an affiliate of financial services firm Credit Suisse to exit.
The deal will consist of €5m in cash upfront and a minimum of €45m payable three years after it closes. The secondary payment may be increased if the equity value of Pagantis equity rises during that time.
Formerly known as Digital Origin, Pagantis has built an automated online platform that allows…
